By James Glynn
SYDNEY--Australian retail sales rose more strongly than expected in October, led by food and household goods sales.
Retail sales rose 0.5% from a month earlier, the Australian Bureau of Statistics said Friday, compared with a 0.3% rise expected by economists. It was the third straight month of solid gains.
The strength comes despite record-low wages growth and signs of a softer job market, with hiring in 2016 heavily weighted toward part-time positions.
Consumer and business confidence levels remain relatively upbeat, despite the global uncertainty posed by Britain's decision to leave the European Union and the U.S. presidential election.
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(END) Dow Jones Newswires
December 01, 2016 19:52 ET (00:52 GMT)
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